« | Home | »

Real Estate Trends in Ahmedabad

4 Comments   |   January 31, 2007    10:43am   |Contributed by Indian Realty News

Real Estate Trends in AhmedabadGujarat’s healthy economy finds expression in all its cities, bustling as they are with activity on all fronts. Ahmedabad, being primus inter pares among other cities in Gujarat is recognized as one of the fastest growing Tier II cities in the country today

The very strong connections of NRI to Ahmedabad, and the Gujarati’s spending power and entrepreneurial skills have encouraged a healthy movement in real estate prices of late.

Though still at a very nascent stage, Ahmedabad is slated for steady growth in the next few years. Residential property ranges between Rs.600 in Ahmedabad North to over Rs.1200 on Ring Road currently. Builders like N.G Developers, Navratna, BGP Builders and Saumya Constructions are catering to the globe-trotting Gujarati with quality residential apartments.

Cashing in on the deep pockets of the local population, major builders have laid out commercial projects for the city to accommodate retail malls and luxury hotels. Niho’s Scottish Mall is coming up on the main Ashram road on 4.5 lakh sq. ft area at a cost of Rs.180 crore. An NRI-funded exhibition-cum-convention centre at Ahmedabad at a cost of $9.2 million will further promote commercial activity in the city.

The State Government’s vision is to develop Ahmedabad into a world-class city through reforms and infrastructure development. Its mission to make the city clean, liveable, productive and self sustaining has translated into the setting up of IT parks in and around Ahmedabad.

DLF has chalked out 30 acres for the city’s IT park, while the road to Gandhinagar will see another IT SEZ project by K.Raheja Corp coming up at a cost of Rs.8,000 million. Three projects have been identified for urban infrastructure development in the city including the Sabarmati riverfront project and integrated public transit system.

With property available at very competitive rates, Ahmedabad is a sound place for real estate investment. The progressive policies of the state government in pushing for SEZs, an organized workforce, considerable investment from NRIs, and the enterprise of the local population will sustain the upward trend the city is experiencing.

The following chart sheds considerable light on the property prices of both the residential as well as commercial units in Ahmedabad:

Ahmedabad Property Rates

Location Residential (Rs/ Sqft) Commercial (Rs/ Sqft)
Ellisbridge 900 - 1400 2200 - 3700
Ashram Road 1100 - 1350 2500 - 4000
Navrangpura C.G. 1250 - 1600 2500 - 5000
Navrangpura 1000 - 1400 2000 - 3000
Naranpura 700 - 1000 1300 - 4000
Vastrapura 600 - 800 1400 - 2400
Satellite Road 750 - 1200 1100 - 5000
Ambawadi 700 - 1100 1300 - 2000
Drive-in - Road 600 - 800 1200 - 4000
Paldi 700 - 900 1200 - 3000
C. Girdharilal Road 700 - 900 2200 - 5000
Usmanpura 750 - 900 2500 - 4500


** Property Rates are subject to change due to market vagaries and may differ by virtue of location and project, depending and facilities and other factors.

News Published Under:   Real Estate India | 4 Comments »



4 Responses to “Real Estate Trends in Ahmedabad”

Indian Realty News Says:  |  January 31st, 2007 at 10:28 am  

Dear Readers,

We thank you for your quick response and productive suggestions. The city specific articles give you additional information on prevailing real estate trends and are intended to assist you in finding answer to your queries.

We have tried our level best to scout every reliable source to provide you with the correct data for property prices that you can count on. If you have any information to bring the improvements in chart, add your suggestions to the comment section.

Thanks
Editor

Deepak Says:  |  May 10th, 2007 at 12:17 pm  

Hi Mr. Editor,
Thanks for your thorough analysis
It would be much appreciated if you can share the property rate details of recent deals. As predicstions are that the property rates will go down by this year end. What are your predictions for Ahmedabad properties.

Rgds
Deepak

vinay Says:  |  August 6th, 2007 at 4:08 pm  

Dear Sir,

You have published good artical.

As per my knowledge this rates for sq.ft is not currnet. please up date the rates. And if you can inform the up coming booming area or up coming projects. So, I can have better idea about investment.

Thanks

Regards,
Vinay

Bhasker Says:  |  September 3rd, 2007 at 8:10 pm  

03/09/07
Dear Sir,
Keep up the good work. I agree with Vinay, that the property rates quoted for Ahmedabad are not current.Like to see updated rates. Also would like to know about upcoming areas and propjects. Like US and Europe the forecast is price drop of 10 to 50% in Ahmedbad, would like to know your forecast.
Thank you
Regards
Bhasker